MIRA
INFORM REPORT
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Report Date : |
08.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MET TRADE INDIA LIMITED |
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Registered Office : |
138-139, Main Road, Gazipur, New Delhi – 110 096, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.02.1997 |
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Com. Reg. No.: |
55-84906 |
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CIN No.: [Company
Identification No.] |
U27107DL1997PLC084906 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM04703G |
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PAN No.: [Permanent
Account No.] |
AAACM8484F |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturers of Lead Oxide, Read Lead, Litharge and Lead Alloys. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 4800000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Directors are reported as experienced, respectable, and resourceful businessmen. Their trade relations are fair. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
138-139, Main Road, Gazipur, New Delhi – 110 096, Delhi, India |
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Tel. No.: |
91-11-22248890-96 |
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Fax No.: |
91-11-22248897/98/99 |
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E-Mail : |
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Factory 1 : |
152 SICOP, Industrial Area, Kathua, Jammu, Jammu and
Kashmir – 184 104, India |
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Tel. No.: |
91-1922-233602 |
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Fax No.: |
91-1922-233602 |
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Factory 2 : |
Village Bheel, Akbarpur, Main G. T. Road, Dadri, Gautam
Budh Nagar, Uttar Pradesh, India |
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Tel. No.: |
91-120-2662207/2051094 |
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Fax No.: |
91-120-2662207 |
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Factory 3 : |
Khasara No. 19/1, 12/3, 12/4, Village Nathupur, Soniput – 131 029,
Haryana, India |
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Tel. No.: |
91-130-2219199 |
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Factory 4 : |
Gupta Pigments and Chemicals Private Limited, Village
Chithera, G. T. Road, Dadri, Uttar Pradesh, India |
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Tel. No.: |
91-120-2662207/2051094 |
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Marketing : |
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Tel. No.: |
91-11-32983297 / 32521019 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Raman Gupta |
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Designation : |
Director |
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Address : |
F-73, Preet Vihar, Delhi – 110 092, Delhi, India |
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Date of Birth/Age : |
29.12.1959 |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Kiran Gupta |
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Designation : |
Director |
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Address : |
F-73, Preet Vihar, Delhi – 110 092, Delhi, India |
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Date of Birth/Age : |
30.03.1961 |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Lajpat Rai Mahajan |
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Designation : |
Director |
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Address : |
F-73, Preet Vihar, Delhi – 110 092, Delhi, India |
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Date of Birth/Age : |
14.03.1924 |
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Date of Appointment : |
03.07.2000 |
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Name : |
Mr. Surinder Kumar Chauhan |
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Designation : |
Director |
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Address : |
Chauhan Niwas, Gali – I, Old Theatre Road, Hanuman Puri, Railway Road,
Dadri – 201 301, Uttar Pradesh, India |
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Date of Appointment : |
19.03.2003 |
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Name : |
Mr. Vidharthi Lal Gupta |
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Designation : |
Director |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Kamal Gupta |
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Designation : |
Director |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Inder Pal Gupta |
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Designation : |
Director |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Rajpal Agnihotri |
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Designation : |
Director |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Mukesh Kumar |
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Designation : |
Director |
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Date of Appointment : |
04.02.1997 |
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Name : |
Mr. Anil Agrawal |
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Designation : |
Whole Time Director |
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Address : |
C-51, Sector – 26, Noida – 201 301, Uttar Pradesh, India |
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Date of Birth/Age : |
08.08.1957 |
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Date of Appointment : |
01.08.2007 |
KEY EXECUTIVES
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Name : |
Mr. Manoranjn Saha |
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Designation : |
Secretary |
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Address : |
3072/3P Gali No. 10, Ranjeetii Nagar, Delhi – 110 008, Delhi, India |
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Date of Appointment : |
21.04.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Raman Gupta |
3078500 |
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Raman Gupta – Karta of Raman Gupta – HUF |
200000 |
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Raman Gupta – Trustee of Amardevi Family Welfare Trust |
167500 |
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Raman Gupta – Trustee of Mahajan Family Welfare Trust |
1000 |
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Raman Gupta – Trustee of Sri Parwati Bhagwan Trust |
1000 |
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Gupta Pigments and Chemicals Private Limited |
330300 |
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Gupta Pigments Private Limited |
39750 |
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Pasa Investment and Leasing (P) Limited |
90000 |
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Inder Pal Gupta |
100 |
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Rajpal Agnihotri |
100 |
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Mukesh Kumar |
100 |
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Total |
3908350 |
List of Allottees
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Names of Allottees |
No. of Shares |
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Raman Gupta |
61570000 |
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Shreya Gupta |
6000 |
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Mahajan Family Welfare Trust |
40000 |
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Amardevi Family Welfare Trust |
3350000 |
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Pasa Investment and Leasing (P) Limited |
1800000 |
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Raman Gupta HUF |
4000000 |
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Gupta Pigments and Chemicals (O) Limited |
6606000 |
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Gupta Pigments Private Limited |
795000 |
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Total |
78167000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Bodies corporate |
12.00 |
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Directors or relatives of Director |
79.00 |
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Other top fifty (50) shareholders |
9.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Lead Oxide, Read Lead, Litharge and Lead
Alloys. |
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Products : |
·
Tin/Tin Alloys ·
Solder Alloys ·
Special Alloys ·
Silver/Silver
Alloys ·
Copper/Copper
Alloys ·
Bi-Metal Contacts ·
Lead:- Pure
Lead, Lead Alloys, Lead Oxides, etc. ·
Aluminium:- Aluminium Extrusions,
Aluminium Alloys, etc. |
GENERAL INFORMATION
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No. of Employees : |
600 |
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Bankers : |
·
Citi Bank N.A. Jeevan Vihar, 3 Sansad Marg, New Delhi –
110 001, Delhi, India ·
Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New
Delhi – 110 001, Delhi, India ·
IDBI Limited 11th Floor, Surya Kiran Building, K G Marg, New Delhi – 110
001, India · ICICI Bank Limited Preet Vihar, Delhi, India · HDFC Bank · Indian Bank Navyug Market, Ghaziabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
Lochan and Company Chartered Accountants Address
: B-1, Dharma Appartments, Inderprastha Extension, Delhi – 110 092,
Delhi, India ·
Daver Sikri and Company Chartered Accountants Address
: 4222/1, Luxmi Kunj, Ansari Road, Darya Ganj, New Delhi – 110 002, Delhi,
India |
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Associates/Subsidiaries : |
·
Shrey Industries Private Limited CIN NO. : U74100DL1996PTC148276 ·
Ind-Metchem Private Limited · Ind-Metal Extrusion Private Limited ·
Gupta Pigments and Chemicals Private Limited |
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Group Companies : |
·
Met Trade Overseas and ARL, Rawanda ·
M.M.A., Dubai ·
Metal Extrusion, Kathua ·
Shrey Industries, Kathua ·
VXL Logistics, Delhi |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3908350 |
Equity Shares |
Rs.10/- each |
Rs.39.084
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
39.084 |
39.084 |
39.084 |
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2] Share Application Money |
30.399 |
0.000 |
5.971 |
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3] Reserves & Surplus |
890.514 |
494.457 |
288.431 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
959.997 |
533.541 |
333.486 |
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LOAN FUNDS |
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1] Secured Loans |
1090.090 |
514.047 |
161.449 |
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2] Unsecured Loans |
2.070 |
5.135 |
25.085 |
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TOTAL BORROWING |
1092.160 |
519.182 |
186.534 |
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DEFERRED TAX LIABILITIES |
6.454 |
6.785 |
0.000 |
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Vehicle under Hypothecation with ICICI Bank Limited |
1.445 |
22.745 |
0.000 |
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TOTAL |
2060.056 |
1082.253 |
520.020 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
152.547 |
156.986 |
89.407 |
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Capital work-in-progress |
31.402 |
7.479 |
0.250 |
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INVESTMENT |
387.522 |
72.522 |
53.142 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
565.430
|
199.101 |
141.086 |
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Sundry Debtors |
773.288
|
565.547 |
164.483 |
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Cash & Bank Balances |
15.170
|
2.887 |
11.395 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
297.026
|
178.670 |
99.101 |
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Total
Current Assets |
1650.914
|
946.205 |
416.065 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
66.702
|
54.261 |
19.622 |
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Provisions |
95.627
|
46.678 |
19.680 |
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Total
Current Liabilities |
162.329
|
100.939 |
39.302 |
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Net Current Assets |
1488.585
|
845.266 |
376.763 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.458 |
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TOTAL |
2060.056 |
1082.253 |
520.020 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
3019.030 |
2113.032 |
1181.480 |
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Other Income |
31.245 |
18.795 |
14.857 |
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Total Income |
3050.275 |
2131.827 |
1196.337 |
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Profit/(Loss) Before Tax |
444.230 |
235.032 |
194.389 |
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Provision for Taxation |
50.157 |
28.678 |
16.960 |
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Profit/(Loss) After Tax |
394.073 |
206.354 |
177.429 |
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Expenditures : |
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Raw Material Consumed |
2121.085 |
1459.487 |
786.537 |
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Consumption of stores and spares parts |
0.000 |
0.000 |
45.146 |
|
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Increase/(Decrease) in Finished Goods |
(64.039) |
20.145 |
14.318 |
|
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Salaries, Wages, Bonus, etc. |
13.574 |
10.363 |
2.822 |
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Managerial Remuneration |
1.223 |
0.300 |
0.000 |
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Payment to Auditors |
0.170 |
0.168 |
0.019 |
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Interest |
65.455 |
25.302 |
9.330 |
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Insurance Expenses |
3.194 |
2.119 |
1.091 |
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Power & Fuel |
124.050 |
91.590 |
59.757 |
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Depreciation & Amortization |
107.150 |
103.956 |
56.511 |
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Other Expenditure |
234.183 |
183.365 |
26.417 |
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Total Expenditure |
2606.045 |
1896.795 |
1001.948 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
12.92
|
9.68 |
14.83 |
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Net Profit Margin (PBT/Sales) |
(%) |
14.71
|
11.12 |
16.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.63
|
21.30 |
38.46 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.44 |
0.58 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.31
|
1.16 |
0.68 |
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Current Ratio (Current Asset/Current Liability) |
|
10.17
|
9.37 |
10.59 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
MET TRADE INDIA LIMITED |
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Presented By |
Company and
Standard Chartered Bank, New Delhi |
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1) Date and description of instrument creating the change |
Letter of
hypothecation of Stock and Book Debts dated 8th June 2005,
registered on 14th June 2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
USD 3000000 or
INR Equivalent (United States Dollars Three Million only or Equivalent Indian
Rupees) |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All stock in
trade both present and future consisting of Raw material, finished goods,
goods in process of manufacturing and other merchandise whatsoever and all
present and future book debts, outstanding moneys, receivables, claims and
bills etc. shall be hypothecated to the Bank by way of first pari passu
basis. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest and other
charges as may be determined by the Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Standard
Chartered Bank Sansad Marg, New
Delhi |
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6) Date and brief description of instrument modifying the charge |
No instrument was
executed. Memorandum od entry evidencing joint mortgage by Re-Deposit of
Title Deeds with ICICI Bank Limited on the immovable properties of the
Company dated September 14, 2005. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Credit facilities
of USD 3.0 million already secured by First Pari Passu charge over Stock and Book
Debts of the company shall additionally be secured by way of first pari passu
charge by joint mortgage by deposit of title deeds with ICICI Bank Limited on
September 13, 2005 in respect of company’s immovable properties listed below: 1.
Khata no.
12, Gata no. 244, admeasuring 0.4393 hectare, situated at Village Bheel
Akbarpur, Tehsil Dadri, Distt. Ghaziabad, Uttar Pradesh 2.
Khata no.
12, Gata no. 243, admeasuring 0.4823 hectare, situated at Village Bheel
Akbarpur, Pargana and Tehsil Dadri, District Ghaziabad, Uttar Pradesh 3.
Khata no.
67, Khasra no. 246, admeasuring 0.4710 hectare, situated at Village Bheel
Akbarpur, Pargana and Tehsil Dadri, District Ghaziabad, Uttar Pradesh Together with all
the building and structures thereon. Fixtures, fittings and all plant and
machinery attached to the earth or permanently fastened to anything attached
to the earth, both present and future. |
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Corporate
identity number of the company |
U27107DL1997PLC084906 |
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Name of the
company |
MET TRADE INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
138-139, Main Road, Gazipur, New Delhi – 110 096, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
IDBI Limited 11th
Floor, Surya Kiran Building, K G Marg, New Delhi – 110 001, India |
|
Nature of
instrument creating charge |
Supplemental
agreement of hypothecation of goods and assets for increase in the overall
limit |
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Date of
instrument Creating the charge |
26.02.2008 |
|
Amount secured by
the charge |
Rs.650.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of Interest As per sanctioned terms. ·
Terms of
repayment As per sanctioned terms. ·
Margin As per sanctioned terms. ·
Extent and
operation of the charge 100% ·
Others The above is to various credit facility of Rs.650.000 millions i.e. CC/WCDL
of Rs.450.000 millions (with sub limit of LC of Rs.50.000 millions and BG of
Rs.50.000 millions) and Buyer’s credit of Rs.200.000 millions |
|
Particulars of
the property charged |
First pari passu
charge on the current assets, entire movable and immovable properties of the
company. |
|
Particulars of
the present modification |
Extent of
operation of charge over first pari passu charge on the current assets,
entire movable and immovable properties of the company stands enhanced to
Rs.650.000 millions i.e. CC/WCDL of Rs.450.000 millions (with sub limit of LC
of Rs.50.000 millions and BG of Rs.50.000 millions) and Buyer’s credit of
Rs.200.000 millions. The overall limit
of Rs.780.000 millions. Other terms and conditions remaining the same. |
Business
Subject is engaged in the business as Manufacturers of Lead Oxide, Read Lead, Litharge and Lead Alloys.
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Products |
Uses |
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-- Lead Acid Batteries |
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-- Boiler & Water Pipe Line |
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3. Red Lead (Setting) |
-- Lead Acid Batteries |
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4. Red Lead (Non-Setting) |
-- Surface coating |
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5. Litharge
(Chemical Grade) |
-- Ceramic & Glass Industries |
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6. Lead Based Alloys |
|
|
Ø
Antimonial Lead Alloy |
-- Lead Acid Batteries |
|
Ø
Selenium Lead Alloy |
-- Lead Acid Batteries |
|
Ø
Calcium Lead Alloy |
-- URLA Batteries |
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Ø
Complex Terenory Alloys |
-- Type Metals |
|
Ø
Tin Lead Alloy |
-- Solders |
|
Ø
Silver Lead Alloy |
|
|
Ø
Silver Lead Calcium Alloy |
|
|
Ø
Ultra Pure Lead |
|
Group Profile
The group has started its manufacturing activities in 1985 and the group has 5 different entities and they are manufacturing Lead Oxide, Red lead, Litharge and Lead Alloys.
These companies have well equipped and sophisticated in house laboratory with facilities to carry our detailed analysis of all parameters required for products. These companies have fully equipped laboratory where Optical Emission Spark Ecectro Spectro Meter is installed, which is used for carrying out analysis of Lead and Other Metals. In addition, an Atomic Absorption Spark Photo Meter is also established in the laboratory.
These companies have the capacity to manufacture about 3500 MT per month of Lead Oxide, Red Lead, Litharge and Lead Alloys and are also capable of handling bulk orders without any waiting period.
Web Details
Profile
Subject is
Flagship of the Gupta Group of Companies having its Head Office at 138, Main
Road, Gazipur, Delhi 110096, India. It is manufacturing companies for Lead, Tin
and Silver metals. This company is operating two smelters, one at Dadri (U.P.)
and the other at Kathua (Jammu and Kashmir).
Subject is Non Ferrous Metal
Manufacturing Company, offering cost-effective, high quality innovative
manufacturing.
At present operations:
Smelters have smelting as well as refining facilities for
producing refined Lead and Tin metals and further to produce high-valued metal
alloys as per customers’ requirement. The company has electro refinery
operation in smelters to get high purity products. Annual Production capacity
of the group 72,000 MT of Lead and 6,000 MT of Tin.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.41.89 |
|
UK Pound |
1 |
Rs.81.73 |
|
Euro |
1 |
Rs.64.81 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|